The registration of an offshore company in RAK is relatively straight-forward with comparatively minimal compliance procedures and only one director and shareholder required (which may be the same person). The director and shareholder may be individuals or corporate entities and may be a non-resident in the UAE.
Outlined below are the requirements for registering a Offshore Company in Ras-Al-Khaimah and the processes and procedures, administration issues and reporting requirements.
Procedure for RAK offshore company formation:
- An application form is completed with details regarding the preferred name and details of directors and shareholders.
- For Individual Applicants the following documents are required: A completed application form, passport copy, original bank reference letter, and proof of residence in the form of a utility bill / phone bill etc.
- For Non-Individual Applicants the following documents are required: Copy of Incorporation Certificate, Board of Meeting of Directors or Resolution, MOA of the parent company, Passport copy of the directors and shareholders, Good Standing Certificate and any other documents requested by the Registrar during the process
- Prior to offshore company registration the objectives and activities of the proposed company after incorporation must be disclosed to the Registrar
- The completed application form, personal documents and Articles of Incorporation are sent to the authorities.
- Once accepted and approved a Certificate of Existence is issued. This Certificate of Existence is proof of an Offshore Company’s formation, registration and existence. The Certificate of Existence is sometimes referred to as the Certificate of Incorporation.